{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\toprule
            &\multicolumn{8}{c}{\textsc{Additional controls}}                                                                                                                               \\\cmidrule(lr){2-9}
            &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         &\multicolumn{1}{c}{(3)}         &\multicolumn{1}{c}{(4)}         &\multicolumn{1}{c}{(5)}         &\multicolumn{1}{c}{(6)}         &\multicolumn{1}{c}{(7)}         &\multicolumn{1}{c}{(8)}         \\
\midrule
\emph{Characteristics:}&                     &                     &                     &                     &                     &                     &                     &                     \\
\addlinespace
\quad Market capitalization&       0.430\sym{***}&       0.429\sym{***}&       0.573\sym{***}&       0.344\sym{***}&       0.349\sym{***}&       0.437\sym{***}&       0.397\sym{***}&       0.392\sym{***}\\
            &     (0.097)         &     (0.096)         &     (0.104)         &     (0.094)         &     (0.092)         &     (0.091)         &     (0.102)         &     (0.098)         \\
\addlinespace
\quad Proof-of-Work&       0.519\sym{***}&       0.522\sym{***}&       0.593\sym{***}&                     &       0.748\sym{***}&       0.478\sym{***}&       0.693\sym{***}&       0.465\sym{***}\\
            &     (0.175)         &     (0.176)         &     (0.202)         &                     &     (0.208)         &     (0.177)         &     (0.156)         &     (0.178)         \\
\addlinespace
\quad Beta  &       2.009\sym{***}&       2.011\sym{***}&       1.743\sym{***}&       2.495\sym{***}&       0.369         &       1.851\sym{***}&       1.845\sym{***}&       2.273\sym{***}\\
            &     (0.269)         &     (0.266)         &     (0.313)         &     (0.255)         &     (0.701)         &     (0.292)         &     (0.262)         &     (0.256)         \\
\addlinespace
\quad Four-week momentum&       0.048         &       0.074         &      -0.174         &      -0.051         &       0.199         &       0.098         &      -0.265         &       0.035         \\
            &     (0.288)         &     (0.289)         &     (0.261)         &     (0.415)         &     (0.294)         &     (0.294)         &     (0.208)         &     (0.291)         \\
\addlinespace
\emph{Beliefs:}&                     &                     &                     &                     &                     &                     &                     &                     \\
\addlinespace
\quad Price Increase&       0.345         &       0.301\sym{*}  &       0.165         &       0.452\sym{**} &       0.331\sym{*}  &       0.296\sym{*}  &      -4.680         &       0.208         \\
            &     (0.239)         &     (0.171)         &     (0.185)         &     (0.176)         &     (0.173)         &     (0.175)         &     (2.899)         &     (0.175)         \\
\addlinespace
\quad Never Mainstream&      -1.504\sym{***}&      -1.513\sym{***}&      -1.287\sym{***}&      -1.360\sym{***}&      -1.410\sym{***}&      -1.479\sym{***}&      -6.575\sym{**} &      -1.375\sym{***}\\
            &     (0.354)         &     (0.350)         &     (0.356)         &     (0.362)         &     (0.383)         &     (0.384)         &     (2.940)         &     (0.377)         \\
\addlinespace
\quad High Potential&       1.526\sym{***}&       1.525\sym{***}&       1.568\sym{***}&       1.576\sym{***}&       1.503\sym{***}&       1.487\sym{***}&      -3.760         &       1.636\sym{***}\\
            &     (0.142)         &     (0.142)         &     (0.136)         &     (0.141)         &     (0.133)         &     (0.135)         &     (2.906)         &     (0.158)         \\
\addlinespace
\emph{Additional controls:}&                     &                     &                     &                     &                     &                     &                     &                     \\
\addlinespace
\quad Price Decrease&       0.078         &                     &                     &                     &                     &                     &                     &                     \\
            &     (0.293)         &                     &                     &                     &                     &                     &                     &                     \\
\addlinespace
\quad Cryptocurrency age (launch)&                     &                     &                     &                     &       0.013\sym{***}&                     &                     &                     \\
            &                     &                     &                     &                     &     (0.004)         &                     &                     &                     \\
\addlinespace
\quad Cryptocurrency age (white paper)&                     &                     &                     &                     &                     &       0.005\sym{**} &                     &                     \\
            &                     &                     &                     &                     &                     &     (0.002)         &                     &                     \\
\addlinespace
\quad Price Increase $\times$ Never Mainstream&                     &                     &                     &                     &                     &                     &       4.189         &                     \\
            &                     &                     &                     &                     &                     &                     &     (2.976)         &                     \\
\addlinespace
\quad Price Increase $\times$ High Potential&                     &                     &                     &                     &                     &                     &       5.383\sym{*}  &                     \\
            &                     &                     &                     &                     &                     &                     &     (2.904)         &                     \\
\addlinespace
\quad Never Mainstream $\times$ High Potential&                     &                     &                     &                     &                     &                     &       5.685\sym{*}  &                     \\
            &                     &                     &                     &                     &                     &                     &     (2.979)         &                     \\
\addlinespace
\quad Price Increase $\times$ Never Mainstream $\times$ High Potential&                     &                     &                     &                     &                     &                     &       0.096         &                     \\
            &                     &                     &                     &                     &                     &                     &    (12.962)         &                     \\
\addlinespace
\quad High Potential (Other Cryptocurrencies)&                     &                     &                     &                     &                     &                     &                     &       0.197\sym{***}\\
            &                     &                     &                     &                     &                     &                     &                     &     (0.066)         \\
\addlinespace
\quad Company consider&                     &                     &                     &                     &                     &                     &                     &                     \\
            &                     &                     &                     &                     &                     &                     &                     &                     \\
\midrule
Macro controls&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Demographics controls&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Wave f.e.   &          No         &         Yes         &          No         &          No         &          No         &          No         &          No         &          No         \\
Observations&      41,823         &      41,823         &      41,823         &      37,176         &      41,823         &      41,823         &      41,823         &      41,823         \\
\bottomrule
\end{tabular}
}
